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The benchmark index began the session with a gap-up open on the back of domestic buying interest in the large cap stocks despite weak global cues. Asian shares lumbered lower on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages; while concerns about a glut of supply saw oil prices suffer their biggest spill in seven weeks.

Pharma and Media shares were the major gainers of the day while realty shares were the losers.

Global Markets

Bank Hapoalim Israel’s largest lender, reported on Wednesday a 22.5% drop in third quarter net profit after it chose to accelerate the sale of its business in Turkey and due to the impact of a negative consumer price index.World stocks were knocked off 22-month highs on Wednesday as a renewed flare-up in Sino-U.S. tensions and the creeping return of U.S. recession fears fueled a bid for bonds and other “safe” assets such as gold.

Stock Snippets

The market valuation of Reliance Industries is nearing the 10 lakh crore mark helped by continuous rise in its share price. The company’s stock on Wednesday climbed 4.10 per cent to 1,571.85.

Mangalore Refinery and Petrochemicals Ltd (MRPL) has made the first export shipment of BS-VI grade diesel.

After a wait of more than a year, IL&FS Construction and Engineering has disclosed its December 2018-ended quarter results. The company has reported profits of Rs 34.4 crore, a huge rise when compared to Rs 32 lakh in profits it posted in the December 2017-ended quarter

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 declined 0.62%.

Australia stocks were lower after the close on Wednesday, as losses in the Financials, Utilities and A-REITs sectors led shares lower.The S&P/ASX 200 fell 1.35%.

China’s Shanghai Composite fell 0.4% by while the SZSE Component was little changed.